Indian Economy

ONGC plans Integrated Offshore Processing unit in Eastern Coast

ONGC plans Integrated Offshore Processing unit in Eastern CoastHyderabad, August 1 : To expedite development of its Oil and Gas finds off the coast of Andhra Pradesh, oil major Oil and Natural Gas Corporation Limited (ONGC) has drawn up a plan to set up an ''Integrated Offshore Supply Base-cum-Processing unit'' near Kona coast in its east Godavari District.

The Integrated Offshore Supply Base is expected to boost ONGC''s Exploration and Production (E&P) efforts on the east coast, which is increasing rapidly.

Government extends scope of 13th Finance Commission

13th Finance CommissionNew Delhi, July 31 : The Union Government has mandated the 13th Finance Commission to map the road for fiscal accounting of liabilities on account of oil, food and fertiliser bonds.

“Cabinet has approved extension of Terms of Reference of 13th Finance Commission having regard to the need to bring liabilities of the central government on account of oil, food and fertiliser bonds into fiscal accounting,” Information and Broadcasting Minister P R Dasmunsi told reporters here.

Inflation rises marginally to 11.98 percent

Inflation Rate 11.98%New Delhi, July 31 : Inflation has marginally risen to 11.98

Additional term of reference for Thirteenth Finance Commission

Indian EconomyNew Delhi, July 31 : The Union Cabinet today gave its approval for insertion of the additional term of reference in the term of reference of the Thirteenth Finance Commission.

Small, medium business most optimistic in India

Singapore - Small and medium-sized enterprises (SMEs) in India emerged as the most optimistic in Asia, a survey of Asia- Pacific business confidence said Wednesday.

HSBC's commercial banking unit in Singapore commissioned the biannual survey, regarded as an indicator of economic health.

Fifty-nine per cent of the SME's queried in India expect rapid growth, up from 58 per cent last year, according to findings published in The Straits Times.

South Korea, with only 6 per cent of SME's forecasting positive growth, was the least optimistic.

RBI hikes repo rate by 0.50 points, CRR by 0.25 points to contain inflation

New Delhi, July 29 : RBI hikes repo rate by 0.50 points, CRR by 0.25 points to contain inflation

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